INTERVIEW: Asia emerging as key early market for distributed green ammonia power, says Amogy CEO

Asian countries are emerging as key early markets for distributed green ammonia power, as rising electricity demand from AI, data centers, and industrial users is supporting the deployment of behind-the-meter clean power solutions, Amogy co-founder and CEO Seonghoon Woo told Platts, part of S&P Global Energy, in an interview.

Such clean power solutions can serve local demand while reducing the need for large-scale grid infrastructure such as transmission cables, Woo said.

"We still have very limited hydrogen or ammonia-powered pilots running today...So, this is a very early market. But the direction towards these fuels is clear as decarbonization gains momentum," Woo said.

According to a company presentation, the global clean ammonia market is projected to grow from less than 10 million metric tons per year in 2025 to about 100 million mt per year by 2040.

Ammonia is supported by a robust global infrastructure, with nearly 200 ports currently handling and storing the commodity. Announced projects could boost the number of ammonia ports by roughly 50% by 2030, facilitating a clean-ammonia trade market expected to reach about 30 million mt/year, according to the report.

"Right now, within APAC, we are concentrating our efforts on markets such as Singapore, South Korea, Japan, and Taiwan. However, we are also in discussions with many Thai players who want to follow," Woo said.

In July, Amogy began construction in South Korea on a project targeting up to 40 MW of ammonia-based power over roughly the next three years, starting with a 1 MW phase and scaling up through 10 MW and 30 MW stages.

The project is scheduled to enter the first phase of commercial operations in the second quarter next year, Woo shared.

South Korea's industrial demand, including semiconductor-related power and emerging data center requirements, is creating opportunities for distributed power systems that use ammonia as a fuel source, Woo said.

Amogy's partnership with Lotte Fine Chemical, announced in September, is another route to scale ammonia-based power and hydrogen supply in South Korea, Woo said.

Lotte has an extensive position in ammonia imports and infrastructure in the country, including access to existing ammonia molecules that could be used to generate power or produce hydrogen for industrial applications, he said.

Ulsan, where Lotte is based, is also becoming a focus area because of planned data center development and demand for decarbonized hydrogen in petrochemical and chemical manufacturing, he added.

Woo said ammonia does not directly compete with LNG due to LNG's current cost advantage, but instead marks the next phase of fuel transition as Asian economies shift from coal- or gas-fired power to hydrogen-based generation.

"LNG will transition to ammonia over time. I think that is the right way to put it because LNG still is a carbon-dense fuel," Woo said.

In addition to South Korea, markets such as Singapore and Japan, which are also major LNG importers, are looking to use ammonia as a hydrogen carrier as they decarbonize power supply over the next 10–20 years, according to Woo.

Singapore relies on LNG for about 95% of its power generation today, the country's Energy Market Authority said recently. According to an EMA statement in 2024, hydrogen has the potential to meet up to 50% of Singapore's projected electricity demand by 2050.

Similar trends may be emerging in Japan, where gas-fired power infrastructure could gradually transition toward hydrogen firing supported by ammonia cracking technology, Woo added.

In June, Amogy and KOWA Company, Ltd. announced a partnership to bring ammonia cracking-based hydrogen supply solutions in Japan's Chubu region, following the signing of an agreement in April. Earlier this year, Amogy and Hoku Infrastructure Partner announced an agreement to advance ammonia to power projects for data centers in Japan.

Amogy is also extending the application of its technology to maritime shipping. However, the power generation market is more advanced for Amogy, Woo noted.

Looking ahead

Recent geopolitical tensions around the Middle East and the Strait of Hormuz have also sharpened energy security concerns among Asian LNG importers, reinforcing the case for more diversified fuel supply chains, Woo said.

Green ammonia could be sourced from a broader range of suppliers, including India, China, Middle East and Australia, and blue ammonia could come from the US, he said.

According to Woo, green ammonia is also becoming more cost-competitive with gray ammonia as production scales up and deployment accelerates across industries.

Woo also highlighted that the emergence of competing developers of ammonia-cracking technology is a positive signal for the market.

"This means that the market is growing bigger and bigger," he said.

According to Woo, Amogy's advantage lies in the commercial maturity of its integrated ammonia cracking and power system, with its first Houston-built unit manufactured this year and operating continuously for several months, logging thousands of hours.

Amogy's ability to integrate ammonia cracking with power generation at a commercial scale has helped it raise funding and secure strategic partnerships, even as other technology developers enter the market, Woo shared.

"Meanwhile, we also want to see the geopolitical environment resolve and become more favorable for the development of the clean fuel," Woo said.

"There are a few important events, including the IMO discussion...So, we are keen to see what happens there as well," he added.